Apple Technicals: The Next Few Days
Sinisa Persic, CMT | Sep 23, 2014 04:20PM ET
After a strong 10% performance in August, Apple Inc. (NASDAQ:AAPL) is consolidating in a narrowing range, which looks like a bullish pennant pattern that's building upside pressure at $103 resistance. If a breakout occurs in the coming days, the current pattern suggests that we could see price acceleration toward the $104-$106 range.
The pennant pattern support trend line should be used as an initial stop while the target is projected with Fibonacci extensions.
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